Convicted bribe brothers Wesley and Joesley Batista are asking shareholders of JBS SA, the world’s largest meat-packing conglomerate, to vote them back on the board of directors.
They were fined millions for bribing scores of Brazilian politicians and officials to obtain bank loans that enabled JBS to buy meat-packing companies, many of them in the United States and XL Packers of Alberta.
The proposal will be brought before shareholders during the company’s annual meeting April 26. The brothers served as chief executives and board members at JBS prior to a corruption and bribery scandal.
The brothers joined the Pilgrim’s Pride Board of Directors in February.
Last May the Brazilian stock exchange watchdog reached a majority verdict,acquitting the Batistas of insider trading allegations.
In January, a Supreme Court justice in Brazil suspended a $2.1 billion fine imposed on J&F Investimentos, Brazil's largest business group with ownership stakes in JBS. The Batista brothers are controlling shareholders of J&F.
J&F initially agreed to pay the substantial fine in 2017 as part of a leniency agreement related to its involvement in corruption scandals.
The Batista brothers confessed to operating a political bribery ring in a plea bargain deal.
